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THE US DEBT IS NOW OUT OF CONTROL. Interest payments are projected to consume 51% of all federal income tax receipts by 2036, up from 38% today, according to CBO data. In dollar terms, interest payments will more than double, from $1 trillion in 2026 to $2.1 trillion by 2036, making it the fastest growing part of the entire federal budget. Interest costs will soon overtake what the government spends on national defense. Federal debt itself is projected to climb from 100% of GDP today to 120% by 2036. H/T: @GratkeWealth
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